Guangzhou Office

Asian Cities

1H 2017

Market overviewDespite the slowdown of the national economy, Guangzhou continued to witness strong economic growth in 2016. According to the Guangzhou Statistics Bureau, the city’s GDP grew by 8.2% year-on-year (YoY) in 2016, to RMB1.96 trillion, 1.5 percentage points (ppts) and 0.7 of a ppt higher than the National GDP growth rate and Guangdong Province GDP growth rate, respectively.

The number of companies looking to conduct business in the city increased significantly in 2016. In the first three quarters of 2016, approximately 190,000 new companies were registered across the city, up 22% YoY. Domestic companies remained the most bullish in the market, recording an increase of 33.7% YoY, while international companies increased by 29.1% YoY.